Chevron Corp. (NYSE: CVX) dropped about 2.9% on Wednesday to a new 52-week low of $106.65 after closing at $109.78 on Tuesday evening. Share volume is about double the daily average of around 5.6 million. The oil & gas giant said yesterday it would delay a deepwater natural gas project in Indonesia, another sign of retrenching in the energy sector. Rival Exxon Mobil Corp. (NYSE: XOM) came within half a buck of putting up a new low as well today.
General Motors Co. (NYSE: GM) dropped about 4.2% today to post a 52-week low of $28.82. The stock’s 52-week high is $41.85. The company was sued for $10 billion today on behalf of owners of 27 million vehicles who seek compensation for the lost value of their GM cars. Trading volume is nearly double the daily average of around 13 million shares traded.
National Bank of Greece SA (NYSE: NBG) posted a drop of about about 19% today to add to yesterday’s 5.3% drop and post a second consecutive a new all-time low. Today’s low was $2.08 against a 52-week high of $6.48. Volume is about 4-times the daily average of around 3.7 million shares. Fitch Ratings warned today that Greek banks remain fragile and the political turmoil in the country is not engendering confidence in the government.
Liberty Interactive Corp. (NASDAQ: QVCA) sank to a new 52-week low on Wednesday of $22.37. Based on Tuesday night’s closing price of $27.74 that’s a drop of more than 19%. The stock’s 52-week high is $30.68. Trading volume is approaching 3-times the daily average of around 1.8 million shares. There was no specific news on the company today, although Time Warner Inc.’s (NYSE: TWX) intention to offer its HBO programming over the Internet probably figured into the day’s decline.
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